Verona Man Admits Bilking IRS Out of $497K

A Verona man working for a Parsippany-based construction company underreported his income to the Internal Revenue Service over the course of four years in the amount of nearly half a million dollars, United States Attorney Paul Fishman announced.

Frank Chimento, 46, pleaded guilty in federal court Tuesday on a charge of subscribing to a false personal federal income tax return.

Chimento, working for the commingled group of construction companies that included Chimento Construction, Chimento Construction Services, and FAC Construction, received cash wages for much of ten years he was with the company, Fishman said.

According to court documents, Chimento failed to report $45,860 of his $85,860 income in 2007; $100,000 in 2008; and a total of $351,788 from 2009 to 2011.

Chimento faces up to three years in prison and a $250,000 fine. He has already agreed to make full restitution of $497,648 to the IRS for all losses, Fishman said.

Chimento is scheduled for sentencing on Jan. 13, 2015.

Two other employees of the Chimento company pleaded guilty last month on similar charges, including Carl Corso, who withheld $97,346, and Joseph Carsillo, who withheld $167,466. Both are scheduled for sentencing on Dec. 18.